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Cartels & Price Fixing
If you or your business face a cartel and illegal price-fixing allegation, you will require expert legal representation at what can be a particularly distressing time.
JMW specialises in this complex area of law, and we understand how disruptive such an investigation can be, both personally and professionally. We are vastly experienced in both helping clients facing a cartel and illegal price-fixing allegation or prosecution and ensuring businesses comply with all necessary regulations.
Our expert business crime team has an in-depth understanding of the laws around price cartels and fair competition, and can provide the advice and guidance you will need to achieve a favourable outcome when you or your business is targeted in an investigation.
We understand how damaging being at the centre of a criminal investigation can be for you or a business, which is why we will work to represent and protect you and your business interests at every stage of the process. We will always work with efficiency and discretion, with the aim of securing the best possible outcome for you.
The team has been and is involved in some of the biggest business crime investigations and prosecutions, and is ranked as a Top Tier Fraud Firm by the Legal 500, as well as Chambers and Partners.
To speak to one of our specialist solicitors about how to protect and represent you and your business against an investigation or proceedings, contact JMW Solicitors today by calling 0800 652 5559. You can also fill in our online enquiry form to request a call back at your convenience.
How JMW Can Help
JMW Solicitors has considerable knowledge and experience of dealing with cartel and illegal price fixing cases, and can help you and your business to launch a strong defence when faced with such allegations.
If you are facing the following circumstances, it is advisable to contact a solicitor immediately:
- You have been accused of a criminal offence of cartel behaviour, including price fixing, insider trading, market abuse, limiting supplies or production, bid rigging, market manipulation or illegal market-sharing arrangements
- You have been invited to an interview under caution by the Competition & Markets Authority (CMA) or the Serious Fraud Office (SFO)
- Your premises have been subject to a dawn raid
- A restraint order has been made against you or your business by a court to deny you access to your assets
We are able to advise, support and represent you and your business in the following ways:
- Investigating the legitimacy of the claims being made against you and take proactive steps to challenge court orders made
- Discussing, advising and representing you in applying for any injunctions or restraining orders against you or your business to be discharged or varied
- Preparing you for an interview under caution, ensuring that anything you say or omit under questioning does not have a negative impact on the outcome of your case
- Advising you on any multi-jurisdictional issues
- Ensuring that you have the best legal defence in place if any charges are brought and criminal proceedings commence
Price cartels and anti-competitive practices are very serious offences, so if you have been accused of any of these crimes, it is vital to speak to JMW Solicitors about your options as soon as possible.
We offer an initial free consultation for all business crime cases, so give us a call today to ensure you have the legal advice and support you need.
What is price fixing and why is it illegal?
Price fixing is an unlawful practice that occurs when a number of companies who would normally be expected to compete against each other conspire to artificially set market prices at a specific rate. This could mean raising, lowering or freezing prices at a specific point, or coming to some other agreement undermining anti-competition laws.
This practice is illegal because it is considered to be anti-competitive and anti-consumer, making it hard for other companies to enter the market and usually leading to higher prices for the customers.
What is a cartel?
When businesses conspire to illegally subvert competition laws and the natural functioning of the market, this is known as a cartel.
These illegal activities include a range of potential offences beyond price fixing, such as the sharing and distribution of commercially sensitive information, or creating a verbal “gentleman’s agreement” to slice up and share out a market between them.
These practices are considered to undermine laws that are in place to protect consumer choice and market competitiveness.
What penalties can you face for cartels and price fixing?
If a company and its directors are found guilty of price fixing or setting up a business cartel, the organisation could face the following consequences:
- A fine of up to 10% of the company’s total turnover
- Seizure of assets
- Paying all of the legal costs associated with the case
Additionally, the individuals responsible may face a number of penalties, including:
- A prison sentence of up to five years
- Disqualification from being a company director for up to 15 years
Talk to Us
For legal advice and support on a cartel or price fixing investigation or criminal proceedings, get in touch with the experienced business crime team at JMW today. Give us a call on 0800 652 5559, or complete our online enquiry form and a member of the team will call you back as soon as possible.